Back in the game

The Carlyle Group is jumping back into the seniors housing acquisition market with the announcement of two deals. First, the private equity firm purchased a 226-unit seniors housing community in Tampa, Florida with the help of a $28.7 million loan arranged by Jay Wagner and Timothy Hosmer of Cushman & Wakefield and procured from a regional bank. Carlyle plans to use some of those funds to also significantly renovate the property, enhance its amenities and reposition the independent living, assisted living and memory care into separate buildings. The company, teaming with Greystar, also acquired a 101-unit independent living community in Fort Worth, Texas for $22 million, or $217,822 per unit. The community was recently built and sits on 10 acres. But while The Carlyle Group hasn’t been involved as an acquirer in the seniors housing market since 2014, it has been one of the more successful sellers. In one instance at the end of last year with Formation Development, it sold its 229-unit independent/assisted living community in Atlanta, Georgia to American Realty Capital Healthcare Trust-III for $78.6 million, after acquiring it in 2012 for $27.5 million. Not too shabby.